The impact of the Russia-Ukraine conflict on the green energy transition – A capital market perspective

Martin Nerlinger and Sebastian Utz
Additional contact information
Martin Nerlinger: University of St. Gallen - School of Finance and Swiss Finance Institute
Sebastian Utz: University of St. Gallen - School of Finance

No 22-49, Swiss Finance Institute Research Paper Series from Swiss Finance Institute

Abstract: We investigate whether the Russia-Ukraine conflict has affected investors' assessment concerning a green energy transition. Based on a global energy sector sample, we apply an event study around the invasion on February 24, 2022. We find that energy firms' CAAR are positive around the event. Renewable energy firms generated comparably low abnormal returns than coal, oil and gas, and uranium. This pattern prevails except in North America, where they show the second-highest CAAR in 41 days around the event. Therefore, the Russia-Ukraine conflict appears not to entirely change the investors' assessment of a possible acceleration of a green energy transition.

Keywords: Russia-Ukraine conflict; energy; transition; event study; climate change (search for similar items in EconPapers)
JEL-codes: G14 G15 Q42 Q54 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2022-06
New Economics Papers: this item is included in nep-cis, nep-ene, nep-env and nep-tra
References: Add references at CitEc
Citations: View citations in EconPapers (20)

Downloads: (external link)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4132666 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:chf:rpseri:rp2249

Access Statistics for this paper

More papers in Swiss Finance Institute Research Paper Series from Swiss Finance Institute Contact information at EDIRC.
Bibliographic data for series maintained by Ridima Mittal ().